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Axa PMI hekps self-employed

AXA PPP HEALTHCARE

Independent Health Cover

Type: Individual private medical insurance plan

Minimum-maximum ages: 18-no maximum

Minimum premiums: Bronze plan £9.51 a month, silver plan £14.12 a
month, gold plan £14.45 a month

Maximum benefits: No maximum

Cover provided: Inpatient and day patient cover &#45 hospital charges
consultant/specialists fees diagnostic tests MRI/CT/PET scans,
radiotherapy/chemotherapy, psychiatric treatment. Outpatient cover &#45
specialist consultations, diagnostic tests, physiotherapy and other
therapies, psychiatric treatment, radiotherapy/chemotherapy,
additional benefits home nursing, private ambulance, parent
accommodation, personal business assistance, cash benefits, legal
advice line.

Excess: Choice of £100, £200 or £500 a year

Options: Six week option providing private treatment only if NHS
treatment not available within six weeks, level one or level two
hospitals

Commission: Gold cover &#45 initial 40%, 5% renewal, silver and bronze
cover &#45 initial 25%, renewal 5%

Tel: 0800 333311

Axa PPP Healthcare&#39s independent health cover is a menu-style
private medical insurance plan designed for the self-employed.

Tett Hamilton & Co senior consultant Stephen Spencer notes the
product literature claims that only 17 per cent of the self-employed
have private medical Insurance and thinks this product is well
thought out and aimed at a market that can benefit from the product.
He says: “The self-employed market is primarily a one person set up,
where if the individual is ill or requires medical treatment; they have
no one to continue their work. Therefore income will stop if medical
treatment is required so it is important that they are able to receive
treatment as quickly as possible.”

Spencer explains Axa offer a range of plans &#45 gold, silver and bronze
&#45 with the lowest offering full in-patient cover, scans, radiotherapy and
chemotherapy. He says: “All cover seems pretty comprehensive.
There is also the option of voluntary excess (£100, £200 and £500) to
reduce premium, and the option where if the client uses the NHS, but
cannot receive treatment or operations within six weeks, they will
immediately be referred to a private hospital. This option reduces the
premium considerably.”

Spencer highlights the product&#39s access to a business support unit
that offers assistance specifically for the self-employed clients, a
legal advice line and cash benefits available for prolonged stays in
hospital. He says: “The literature states that the premiums are
competitively priced because the self-employed traditionally make
fewer claims. The banding is based on single years so the premium
will increase annually rather than a significant increase every five
years or so. The premiums shown on the table are competitive
against the other products shown, but not all companies are shown,
for instance Standard life healthcare is not included, and a provider is
always going to compare with companies that show them in a
favourable light.”

Spencer can see few disadvantages, other than the fact that
quotations are not yet available online and are currently available only
by phone or e-mail request.. He thinks that the usual providers such
as Bupa, Standard Life and WPA.will provide competition.

BROKER RATINGS

Suitability to Market: Good

Flexibility: Good

Premium rates: Good

Adviser remuneration: Good

Overall 8/10

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